Moises Dondoyano Information System

Unadjusted Trial Balance

Dec. 31, 2018

Cash ₱ 45,000.00
Notes Receivable ₱ 360,000.00
Accounts Receivable ₱ 156,000.00
Office Supplies ₱ 63,000.00
Land ₱ 300,000.00
Building ₱ 1,590,000.00
Accumulated Depreciation - Building ₱ 254,000.00
Equipment ₱ 2,150,000.00
Accumulated Depreciation - Equipment ₱ 612,000.00
Accounts Payable ₱ 213,000.00
Unearned Consulting Revenue ₱ 450,000.00
Dondoyano, Capital, 1/1/2018 ₱ 2,655,000.00
Dondoyano, Withdrawals ₱ 600,000.00
Consulting Revenues ₱ 2,108,000.00
Salaries Expense ₱ 875,000.00
Repairs Expense ₱ 116,000.00
Miscellaneous Expense ₱ 37,000.00
Totals ₱ 6,292,000.00 ₱ 6,292,000.00

Additional Information
a. Office supplies on hand as at Dec. 31, 2018 is 21,000
b. One-third of the unearned revenues has been earned as at Dec. 31, 2018
c. Depreciation for the year amounted to 38,000 for the building and 123,000 for the equipment
d. Salaries in the amount of 14,000 have accrued at year-end
e. The notes receivable were accepted from several customers. The notes were issued on Sept. 1, 2018 and will be settled to

Required
1. establish a ledger account for each of the account in the unadjusted trial balance
2. journalize and post the adjusting entries
3. prepare and adjusted trial balance
4. Prepare an income statement, a statement of changes in equity, and a balance sheet
2018 and will be settled together with a 20% interest on May 31, 2019.
SL no. Date Ref. Debit Credit
a. Dec. 31 Office Supplies Expense ₱ 42,000.00
Office Supplies ₱ 42,000.00

b. 31 Unearned Revenue ₱ 150,000.00

Consulting Revenue ₱ 150,000.00

c. 31 Depreciation expense - Building ₱ 38,000.00

Depreciation expense - Equipment ₱ 123,000.00
Accumulated Depreciation - Building ₱ 38,000.00
Accumulated Depreciation - Equipment ₱ 123,000.00

d. 31 Salaries Expense ₱ 14,000.00

Salaries Payable ₱ 14,000.00

e. 31 Interest Receivable ₱ 24,000.00

Interest Revenue ₱ 24,000.00
 Moises Dondoyano Information System
Worksheet
Dec. 31, 2018

Accounts Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Changes in Owners Equity
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash ₱ 45,000.00 ₱ 45,000.00 ₱ 45,000.00
Notes Receivable ₱ 360,000.00 ₱ 360,000.00 ₱ 360,000.00
Accounts Receivable ₱ 156,000.00 ₱ 156,000.00 ₱ 156,000.00
Office Supplies ₱ 63,000.00 ₱ 42,000.00 ₱ 21,000.00 ₱ 21,000.00
Land ₱ 300,000.00 ₱ 300,000.00 ₱ 300,000.00
Building ₱ 1,590,000.00 ₱ 1,590,000.00 ₱ 1,590,000.00
Accumulated Depreciation - Building ₱ 254,000.00 ₱ 38,000.00 ₱ 292,000.00 ₱ 292,000.00
Equipment ₱ 2,150,000.00 ₱ 2,150,000.00 ₱ 2,150,000.00
Accumulated Depreciation - Equipment ₱ 612,000.00 ₱ 123,000.00 ₱ 735,000.00 ₱ 735,000.00
Accounts Payable ₱ 213,000.00 ₱ 213,000.00 ₱ 213,000.00
Unearned Consulting Revenue ₱ 450,000.00 ₱ 150,000.00 ₱ 300,000.00 ₱ 300,000.00
Dondoyano, Capital, 1/1/2018 ₱ 2,655,000.00 ₱ 2,655,000.00 ₱ 2,655,000.00 ₱ 2,655,000.00
Dondoyano, Withdrawals ₱ 600,000.00 ₱ 600,000.00 ₱ 600,000.00 ₱ 600,000.00
Consulting Revenues ₱ 2,108,000.00 ₱ 150,000.00 ₱ 2,258,000.00 ₱ 2,258,000.00 ₱ 2,258,000.00
Salaries Expense ₱ 875,000.00 ₱ 14,000.00 ₱ 889,000.00 ₱ 889,000.00 ₱ 889,000.00
Repairs Expense ₱ 116,000.00 ₱ 116,000.00 ₱ 116,000.00 ₱ 116,000.00
Miscellaneous Expense ₱ 37,000.00 ₱ 37,000.00 ₱ 37,000.00 ₱ 37,000.00
Office Supplies Expense ₱ 42,000.00 ₱ 42,000.00 ₱ 42,000.00 ₱ 42,000.00
Depreciation expense - Building ₱ 38,000.00 ₱ 38,000.00 ₱ 38,000.00 ₱ 38,000.00
Depreciation expense - Equipment ₱ 123,000.00 ₱ 123,000.00 ₱ 123,000.00 ₱ 123,000.00
Salaries Payable ₱ 14,000.00 ₱ 14,000.00 ₱ 14,000.00
Interest Receivable ₱ 24,000.00 ₱ 24,000.00 ₱ 24,000.00
Interest Revenue ₱ 24,000.00 ₱ 24,000.00 ₱ 24,000.00 ₱ 24,000.00
₱ 6,292,000.00 ₱ 6,292,000.00 ₱ 391,000.00 ₱ 391,000.00 ₱ 6,491,000.00 ₱ 6,491,000.00 ₱ 1,245,000.00 ₱ 2,282,000.00 ₱ 5,246,000.00 ₱ 4,209,000.00 ₱ 1,845,000.00 ₱ 4,937,000.00
₱ 1,037,000.00 ₱ 1,037,000.00 ₱ 3,092,000.00
₱ 5,246,000.00 ₱ 5,246,000.00
Consulting Revenues ₱ 2,258,000.00
Interest Revenue ₱ 24,000.00 ₱ 2,282,000.00
Less:
Salaries Expense ₱ 889,000.00
Repairs Expense ₱ 116,000.00
Miscellaneous Expense ₱ 37,000.00
Office Supplies Expense ₱ 42,000.00
Depreciation expense - Building ₱ 38,000.00
Depreciation expense - Equipment ₱ 123,000.00 ₱ 1,245,000.00
Net Income ₱ 1,037,000.00
Assets
Current Assts
Cash ₱ 45,000.00
Notes Receivable ₱ 360,000.00
Accounts Receivable ₱ 156,000.00
Interest Receivable ₱ 24,000.00
Unearned Consulting Revenue ₱ 300,000.00
Office Supplies ₱ 21,000.00
Total Current Assets ₱ 906,000.00
Property, Plant & Equipment
Land ₱ 300,000.00 ₱ 300,000.00
Building ₱ 1,590,000.00
Equipment ₱ 2,150,000.00 ₱ 3,740,000.00
Accumulated Depreciation - Building ₱ 292,000.00
Accumulated Depreciation - Equipment ₱ 735,000.00 ₱ 1,027,000.00
Total Property, Plant & Equipment ₱ 3,013,000.00
Total Assets ₱ 3,919,000.00
Liabilities
Accounts Payable ₱ 213,000.00
Salaries Payable ₱ 14,000.00
Total Liabilities ₱ 227,000.00
Owner's Equity
Dondoyano, Capital ₱ 2,655,000.00
Net Income ₱ 1,037,000.00 ₱ 3,692,000.00
Total Owner's Equity ₱ 3,919,000.00
Consulting Revenues ₱ - Assets Dondoyano, Capital ₱ 2,655,000.00
Interest Revenue ₱ 2,282,000.00 ₱ 2,282,000.00 Current Assts Add: Net Income ₱ 1,037,000.00 ₱ 3,692,000.00
Less: Cash ₱ 45,000.00 Less: Dondoyano, Withdrawals ₱ 600,000.00 ₱ 600,000.00
Salaries Expense ₱ 116,000.00 Notes Receivable ₱ 360,000.00 Net Changes in Owner's Equity ₱ 3,092,000.00
Repairs Expense ₱ 116,000.00 Accounts Receivable ₱ 156,000.00
Miscellaneous Expense ₱ 37,000.00 Interest Receivable ₱ 24,000.00
Office Supplies Expense ₱ 38,000.00 Unearned Consulting Revenue ₱ 300,000.00
Depreciation expense - Building ₱ 123,000.00 Office Supplies ₱ 21,000.00
Depreciation expense - Equipment ₱ - ₱ 430,000.00 Total Current Assets ₱ 906,000.00
Net Income ₱ 1,852,000.00 Property, Plant & Equipment
Land ₱ 300,000.00 ₱ 300,000.00
Building ₱ 1,590,000.00
Equipment ₱ 2,150,000.00 ₱ 3,740,000.00
Accumulated Depreciation - Building ₱ 292,000.00
Accumulated Depreciation - Equipment ₱ 735,000.00 ₱ 1,027,000.00
Total Property, Plant & Equipment ₱ 3,013,000.00
Total Assets ₱ 3,919,000.00
Liabilities
Accounts Payable ₱ 213,000.00
Salaries Payable ₱ 14,000.00
Total Liabilities ₱ 227,000.00
Owner's Equity
Dondoyano, Capital ₱ 2,655,000.00
Net Income ₱ 1,037,000.00 ₱ 3,692,000.00
Total Owner's Equity ₱ 3,919,000.00
Dondoyano, Capital ₱ 2,655,000.00
Add: Net Income ₱ 1,037,000.00 ₱ 3,692,000.00
Less: Dondoyano, Withdrawals ₱ 600,000.00 ₱ 600,000.00
Net Changes in Owner's Equity ₱ 3,092,000.00